CSE: URL / OTC: URLOF

Record Quarterly Revenues and Operating Income

VANCOUVER, BC, Nov. 29, 2024 /CNW/ – NameSilo Technologies Corp. (CSE: URL) (PINKSHEETS: URLOF) (the “Company”), one of the largest domain registrars in the world, is pleased to announce the financial results for the quarter ending September 30, 2024. The financial statements and related management’s discussion and analysis (“MD&A”) can be viewed on SEDAR+ at www.sedarplus.ca.

Financial Highlights of the Company:

The Company experienced financial results in fiscal Q3 2024 as set forth below (all figures in Canadian dollars):

8th consecutive quarter and 6th year of consecutive revenue growthRecord Revenues of $14,351,076 for Q3 2024 as compared to $12,454,667 in Q3 2023, an increase of 15.2%. The increase in revenues for Q3 2024 was due to an increase in domains under management, marketplace revenues, and from the sale of ancillary services.Gross Profit of $3,214,896 or 22.4% of its revenues in Q3 2024 vs $2,263,532 or 18.2% in Q3 2023. Highest gross margin in company’s history. Record operating income of $1,240,660 for Q3 2024 compared to $770,085 in Q3 2023.Net income of $488,064 in Q3 2024 compared to a net loss of $103,394 in Q3 2023.Record adjusted EBITDA* of $1,445,761 for Q3 2024 as compared to $1,038,414 in Q3 2023Total Bookings* of $14,342,555 in Q3 2024 compared to $13,313,280 in Q3 2023.Total deferred revenues of $29,660,503 as of September 30, 2024, vs $26,264,921,782 at September 30, 2023.Cash flow generated from operations of $2,320,773 for Q3 2024 vs $1,006,499 in Q3 2023Cash and cash equivalents as of September 30, 2024 of $4,981,005Investments holdings totalling $3,636,452Value of bitcoin holdings $1,231,960 as of September 30, 2024Entered into a $1.5 million non dilutive draw down loan facility

Subsequent to the quarter end the company has:

Eliminated all of its outstanding convertible debtCancelled 850,500 sharesAs of the date of this news release, purchased for cancellation an additional 438,500 sharesSurpassed 5 million domains under management

“We are very pleased with the ongoing growth of our operating business,” commented Paul Andreola, CEO of NameSilo Technologies. “Q3 was another record quarter in terms of revenues and gross margin and the significant increase in free cash flow, increased cash position and the new $1.5 draw down facility has allowed us to extinguish all of our long term convertible debt, significantly reduced our interest expense, and now has us in a net cash position for the first time since current management purchased the company in 2017. The company has never been better positioned to continue to grow and deploy capital to new opportunities and to continue to buy back shares. We would like to thank all our employees, customers and shareholders for their support and hard work.” 

NameSilo LLC (“NameSilo”) has grown to over 5.05 million active domains under management and customers in approximately 160 countries.  Since acquiring NameSilo in August 2018 the new management team has grown revenues from full year 2017 revenues of approximately $10.6 million to over $48.96 million in 2023. Domains under management have grown from 1.85 million to over 5.05 million today. The Company has also invested significant resources to offer new products and services which have helped to increase revenues and improve gross margins. The Company offers hosting services, email products, a free logo maker, security products, several new domain services and more all while maintaining some of the lowest prices in the industry. NameSilo now accepts over 150 payment methods including most major credit cards, Web money payments such as Apple Pay, Venmo, Alipay and more. The Company was also one of the first companies in the industry to accept bitcoin.

NameSilo LLC will focus on adding value-added products to offer customers a one-stop source for essential services related to their domains. The Company believes that these new products will further increase core revenues and margin growth for NameSilo, improve customer retention and improve the value proposition to the customer base.

About NameSilo Technologies Corp. and NameSilo LLC

NameSilo Technologies Corp. invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. NameSilo does not invest on behalf of any third-party and it does not offer investment advice.

NameSilo LLC is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, NameSilo is one of the fastest growing domain registrars in the world with approximately 4.75 million active domains under management from approximately 160 countries.

Disclaimer for Forward-Looking Information

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company’s actual results to differ materially from those expressed or implied by the forward-looking statements.

*Non-IFRS Financial Measure

Readers are cautioned that “Adjusted EBITDA” and “total bookings” are measures not recognized under IFRS. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, share-based compensation, restructuring costs, impairment charges and other non-recurring gains or losses. Management believes Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Total bookings includes the full amount of cash received from new domain bookings, renewals and other related services. Whereas, under IFRS, the Company records revenue from domain booking and renewal fees on a straight-line basis over the life of the contract term. However, the Company’s management believes that “total bookings” provides investors with insight into management’s decision-making process because management uses this measure to run the business and make financial, strategic and operating decisions. Further, “total bookings” also provides useful insight into the Company’s operating performance on a yearly basis. “Total bookings” do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that “Adjusted EBITDA” and “total bookings” are not an alternative to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flow or profitability.

NEITHER THE CSE NOR ITS REGULATION SERVICES PROVIDERS (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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SOURCE NameSilo Technologies Corp.

DÜSSELDORF, Germany, Nov. 29, 2024 /PRNewswire/ — Tuya Smart (NYSE: TUYA, HKEX: 2391), the global cloud platform service provider, celebrated the official upgrade and launch of its European headquarters in Düsseldorf. This milestone underscores Tuya’s strategic commitment to the European market, signaling an intensified focus on strengthening its brand presence and expanding its footprint within Europe and the global smart technology landscape.

Since establishing its headquarters in Düsseldorf in 2019, Tuya has deeply engaged with the European market, building a fully localized team. Leveraging its forward-thinking market insights and technological capabilities, Tuya has partnered with leading European brands such as Schneider, Philips, Hama, Denver, and Calex. Together, they are integrating smart products into various online and offline consumer electronics channels, creating an innovative smart living experience for European consumers.

As the European smart market experiences rapid growth and increasing demand for localized smart solutions, Tuya has upgraded its Düsseldorf headquarters to better meet the evolving needs of its customers and provide more tailored services across the region.

The event commenced with Astrid Becker, General Manager for Asia and Australia at NRW Global Business, who delivered an address welcoming the enhanced engagement of Tuya in North Rhine-Westphalia (NRW) and Düsseldorf. She highlighted the vast business opportunities for smart solutions within local communities, underscoring the potential for collaboration and innovation in the region.

Annette Klerks, acting Head of the Office of Economic Development for the City of Düsseldorf, also delivered welcome remarks, stating that Düsseldorf actively fosters business innovation and cooperation and is very pleased to see an innovative company like Tuya, which is already very active in local networks, expanding its presence. “From a municipal perspective, optimizing energy use is a crucial technology for achieving our goals in climate protection and carbon neutrality. Tuya’s innovative smart solutions empower individuals and businesses to contribute effectively to these objectives.”

Tina Yu, General Manager of Eurasia at Tuya Smart, reflected on the company’s progress in Europe and outlined its future vision for the smart living sector. “After six years of dedication, Tuya has become a trusted brand in Europe, transforming how consumers interact with smart technology in their daily lives,” Yu stated. “With the upgrade of our European headquarters, we remain committed to advancing energy conservation, safety, and efficiency, while bringing more intelligent and sustainable smart solutions to European consumers and businesses.”

Following the ceremony, attendees toured the newly upgraded headquarters, experiencing Tuya’s latest innovations in smart home technology and AIoT solutions. The exhibition showcased cutting-edge applications in energy management, home security, smart buildings, and green transportation, reflecting Tuya’s technological expertise and its unwavering pursuit of shaping future lifestyles through smart living solutions.

During the Q&A session, Tuya’s industry experts engaged in insightful discussions with attendees, addressing key topics such as the future of the European market, the quality assurance of localized services, and the promotion of green and smart living solutions. This exchange highlighted Tuya’s deep market understanding and strategic approach to driving innovation in Europe.

The upgraded headquarters in Düsseldorf marks a significant step in Tuya’s continued commitment to the European market. Looking ahead, Tuya will leverage this new phase of expansion to accelerate technological innovation, strengthen partnerships with European customers, and contribute to the evolution of smart living and business across the region. Tuya invites companies interested in exploring smart solutions and collaboration opportunities to visit its Düsseldorf headquarters for further discussions and exchanges, exploring the transformative potential of intelligent technology together.

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HO CHI MINH CITY, Vietnam, Nov. 29, 2024 /PRNewswire/ — TMA Solutions has partnered with True IDC, a leading cloud service provider to deliver AI as a service (AIaaS).

Mr. Hong Tran, Senior Vice President of TMA Solutions, said “By combining TMA Solutions’ expertise in AI technology with True IDC’s cloud infrastructure and services, we will create a powerful AI solutions ecosystem, enabling businesses quickly and easily adopt AI solutions without investing on expensive AI servers, thereby enhancing their competitiveness and fostering innovation.”

By leveraging TMA Solutions’ extensive experience in AI deployment and the capabilities of True IDC cloud services, customers will benefit from:

Rapid Deployment: Easy access to AI as a service (AIaaS) solution and service.Cost Savings: No need to invest in high-cost AI servers.Industry-Specific AI Solutions: From chatbots and data analytics to custom AI applications designed for the unique needs of various industries.Professional Support: Expert guidance and assistance throughout the implementation journey.

TMA Solutions offers AI-driven solutions across diverse industries, designed to support businesses in their digital transformation journey. These solutions empower organizations to fully leverage the potential of cloud computing through our Go Digital, Go Cloud, Go Smart, Go Automation, Go AI initiatives.

AI as a Service for Security and Safety

TMA offers a range of AI-driven solutions designed to enhance safety and security.  Among these, TMA provides a customized Smart Camera solution for businesses, tailored to address specific security and operational needs across various industries. By leveraging AI, TMA’s solutions deliver advanced surveillance capabilities, enabling real-time monitoring and proactive protection. These solutions are adaptable to a wide array of environments, including public safety areas, commercial buildings, factories, industrial parks, and warehouses, etc. These solutions can detect suspicious behaviors such as aggression, loitering, and vandalism, helping security teams respond quickly to potential threats. The system also includes crowd detection to manage large gatherings and ensure safety, as well as weapon detection to identify potential threats in real time. By providing accurate and timely alerts, these AI-powered solutions help ensure a safer, more secure environment. The Vehicle Detection system tracks and manages vehicles in real-time, helping with parking management and traffic monitoring in high-traffic areas. These solutions work together to provide a comprehensive approach to safety security, ensuring operational efficiency.

AI as a Service for Healthcare

TMA provides AI solutions that enable abnormality detection and elder behavior analytics, improving early diagnosis, patient monitoring, and elderly care management. By leveraging AI-driven insights, these solutions enhance the ability to detect subtle changes in health conditions, facilitating faster interventions and more personalized care. With focus on analytics and continuous monitoring, the solutions empower healthcare providers to improve patient outcomes, while ensuring that elderly care remains proactive, efficient, and tailored to individual needs.

One key offering is Atrial Fibrillation Detection Using ECG, which uses AI to analyze ECG data and identify irregular heart rhythms. This early detection helps manage atrial fibrillation, reducing the risk of complications like strokes and improving patient outcomes. Another vital solution, Stroke Assessment and Detection, leverages predictive algorithms to assess stroke risks, enabling faster, more accurate decisions in critical moments. TMA also offers Sleep Quality Data Analytics, analyzing data from wearables to provide insights into sleep patterns and improve overall health management. Additionally, TMA’s Customer Service Chatbot enhances patient communication by providing instant responses to inquiries about appointments, prescriptions, and general information, freeing up healthcare staff to focus on patient care.

AI as a Service for Smart Manufacturing

TMA Solutions provides AI-driven solutions for factories and industrial parks, focusing on improving operational efficiency. Our Defect Detection system ensures consistent product quality by identifying production flaws in real-time, while Predictive Maintenance anticipates equipment failures, helping to reduce downtime. Machine Optimization fine-tunes machinery to enhance performance and efficiency. Additionally, AI-powered facial recognition, people and vehicle detection, as well as crowd and weapon detection, bolster security by preventing potential incidents and fostering a safer work environment. The “Personal Protective Equipment (PPE) Detection” solution uses AI to ensure workers comply with safety regulations by detecting required PPE, improving safety and reducing accidents in real-time. These integrated solutions empower businesses to maintain high safety standards while improving overall productivity.

AI as a Service for Retail, Ecommerce and Distribution

TMA Solutions offers a suite of AI-powered tools that enhance the retail and eCommerce experience, streamline operations, and drive sales. Visual Search allows customers to find products quickly by uploading images, improving the shopping experience and boosting conversions. The Call Center Assistant uses AI to automate responses and support customer inquiries, reducing wait times and improving service efficiency. Invoice/Receipt Parser streamlines administrative tasks by automatically extracting and processing data from invoices and receipts, saving time and reducing errors. People Heatmap analyzes foot traffic patterns to help retailers optimize store layouts and improve marketing strategies. The Shopping Assistant offers personalized product recommendations based on customer behavior, enhancing engagement and driving sales. Age and Gender Detection helps businesses tailor their marketing efforts by providing insights into customer demographics, improving targeted advertising and customer insights.

AI as a Service for Finance, Banking, and Insurance

TMA Solutions provides AI-powered tools for finance, banking, and insurance that streamline complex processes, enhance risk management, and improve customer service. The Automated Financial Report solution can generate management and financial reports, reducing manual effort, ensuring compliance, and minimizing errors. This enables businesses to generate real-time, reliable financial data quickly and efficiently. In addition, TMA’s Credit Scoring & Risk Assessment tool leverages advanced algorithms to assess customer data more accurately, enabling financial institutions to make more informed decisions when evaluating creditworthiness. This reduces lending risks and ensures that financial products are tailored to the right customers, improving both the institution’s risk management and customer satisfaction.

AI as a Service for Agriculture

By combining IoT and AI technologies, TMA Solutions has developed various innovative agritech solutions, from product integrity, environment monitoring to supply chain. A recent solution is an AI-powered Pest Detection System to help farmers detect pests and safeguard crop yields. This system uses AI and IoT to automatically detect and classify harmful insects, providing real-time notifications to farmers for more targeted pesticide use. By integrating a mobile app, farmers can upload images for disease diagnosis and receive timely alerts. This solution improves crop management by increasing accuracy, reducing labor costs, and enhancing productivity, ultimately leading to healthier crops, higher yields, and more sustainable farming practices.

Partner with TMA Solutions for your AI transformation

TMA Solutions is an innovative tech partner for many in developing AI solutions tailored to specific business needs. Through our AI as a Service (AIaaS) offerings, we provide businesses across industries with both custom AI development and ready-made solutions, enabling them to drive innovation, enhance efficiency, and foster growth.

With more than 10 years of experiences and more than 100 AI projects, TMA Solutions can support organizations fully leverage the power of AI to increase efficiency and competitiveness. Whether you’re looking to build AI platforms from the ground up, integrate AI into existing systems, or implement industry-specific AI applications or setup AI Development Center, we offer the expertise and resources to ensure a smooth, cost-effective AI adoption that aligns with your business goals and accelerates digital transformation.

For more information about our AI solutions, visit our website: TMA Solutions AI & ML Services.

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SOURCE TMA Solutions